TIAA CREF Investment Management LLC increased its position in shares of Ardmore Shipping Corporation (NYSE:ASC) by 12.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,564 shares of the shipping company’s stock after purchasing an additional 8,212 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.23% of Ardmore Shipping Corporation worth $616,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Royce & Associates LP boosted its stake in shares of Ardmore Shipping Corporation by 9.4% during the 2nd quarter. Royce & Associates LP now owns 1,713,575 shares of the shipping company’s stock worth $13,966,000 after purchasing an additional 147,900 shares during the period. American Century Companies Inc. boosted its position in Ardmore Shipping Corporation by 2.9% in the 2nd quarter. American Century Companies Inc. now owns 1,463,249 shares of the shipping company’s stock valued at $11,925,000 after buying an additional 40,871 shares during the period. Eagle Boston Investment Management Inc. boosted its position in Ardmore Shipping Corporation by 12.8% in the 2nd quarter. Eagle Boston Investment Management Inc. now owns 1,025,267 shares of the shipping company’s stock valued at $8,355,000 after buying an additional 116,500 shares during the period. Signia Capital Management LLC boosted its position in Ardmore Shipping Corporation by 2.6% in the 2nd quarter. Signia Capital Management LLC now owns 765,771 shares of the shipping company’s stock valued at $6,241,000 after buying an additional 19,565 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Ardmore Shipping Corporation by 22.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 349,660 shares of the shipping company’s stock valued at $2,849,000 after buying an additional 64,880 shares during the period. 80.34% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Morgan Stanley boosted their price objective on shares of Ardmore Shipping Corporation from $8.50 to $9.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Stifel Nicolaus set a $10.00 price objective on shares of Ardmore Shipping Corporation and gave the company a “buy” rating in a research report on Sunday, October 29th. Jefferies Group LLC reissued a “buy” rating and issued a $10.00 price objective on shares of Ardmore Shipping Corporation in a research report on Monday, October 16th. Finally, ValuEngine cut shares of Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $10.00.

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Shares of Ardmore Shipping Corporation (NYSE ASC) opened at $8.25 on Thursday. Ardmore Shipping Corporation has a 52-week low of $6.20 and a 52-week high of $9.05. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.57 and a quick ratio of 1.41.

Ardmore Shipping Corporation (NYSE:ASC) last posted its quarterly earnings results on Wednesday, November 1st. The shipping company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). Ardmore Shipping Corporation had a negative net margin of 6.45% and a negative return on equity of 3.08%. The business had revenue of $48.70 million during the quarter, compared to analyst estimates of $29.99 million. During the same quarter in the previous year, the business posted ($0.05) EPS. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. research analysts forecast that Ardmore Shipping Corporation will post -0.34 EPS for the current fiscal year.

Ardmore Shipping Corporation announced that its board has approved a stock repurchase plan on Thursday, August 31st that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the shipping company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Ardmore Shipping Corporation Company Profile

Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.

Institutional Ownership by Quarter for Ardmore Shipping Corporation (NYSE:ASC)

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